Brooks Macdonald Group PLC Quarterly Announcement of Funds under Management (0138X)
April 25 2019 - 2:00AM
UK Regulatory
TIDMBRK
RNS Number : 0138X
Brooks Macdonald Group PLC
25 April 2019
25 April 2019
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
Brooks Macdonald Group plc (the "Group"), the AIM listed
investment management group, today publishes its quarterly update
on its Discretionary Funds under Management ("FUM") for the third
quarter ended 31 March 2019.
As at 31 March 2019, FUM totalled GBP12.8bn, an increase of 7.9%
over the quarter (31 December 2018: GBP11.9bn). As a comparison,
the MSCI WMA Balanced Index increased by 6.9% over the period.
-- This result was driven by net new business of GBP166m (+1.4%)
and investment performance of GBP773m (+6.5%)
-- UK Investment Management ("UKIM") added net flows of GBP152m
(+1.5%) and performance gains of GBP742m (+7.2%)
-- International had positive net new business of GBP14m (+0.9%)
as the impact of the previously disclosed loss of a client-facing
team fell away
Year-on-year, total FUM increased by 9.8% (31 March 2018:
GBP11.7bn).
In line with the Group's stated strategy to focus on its core
offerings, on 10 April the Ground Rents Income Fund plc ("GRIF"), a
specialised property fund, announced that the Group was exiting
from its investment management agreement with the fund. This is
subject to the necessary FCA notification, which is expected to
take one month. GRIF represented GBP93m of non-core funds at 31
March 2019.
Analysis of discretionary fund flows over the quarter
Quarter to 31 March 2019
Opening Net new Performance Closing Net new Total growth
GBPm FUM business FUM business (%)
(%)
-------------------- -------- ---------- ------------ -------- ---------- -------------
BPS 7,281 70 585 7,935 1.0 9.0
-------------------- -------- ---------- ------------ -------- ---------- -------------
MPS 1,491 38 92 1,621 2.5 8.7
-------------------- -------- ---------- ------------ -------- ---------- -------------
UKIM discretionary 8,772 107 677 9,557 1.2 8.9
-------------------- -------- ---------- ------------ -------- ---------- -------------
Funds 1,464 45 65 1,574 3.0 7.5
-------------------- -------- ---------- ------------ -------- ---------- -------------
UKIM total 10,236 152 742 11,130 1.5 8.7
-------------------- -------- ---------- ------------ -------- ---------- -------------
International 1,510 14 45 1,568 0.9 3.9
-------------------- -------- ---------- ------------ -------- ---------- -------------
Non-core funds 111 0 (14) 97 0.0 (12.3)
-------- ---------- ------------ -------- ---------- -------------
Total 11,857 166 773 12,796 1.4 7.9
-------- ---------- ------------ -------- ---------- -------------
Caroline Connellan, Chief Executive of Brooks Macdonald
commented:
"I am pleased to report we have continued to perform well
overall with positive net new business and strong investment
performance. Although client sentiment remained subdued in the UK
against the backdrop of macro-economic and political uncertainty,
in that context we maintained decent organic growth, reflecting the
strength of our client and adviser relationships. The return to
positive net flows in International is encouraging, with the
changes we announced in March designed to support the future growth
of this business.
"The ongoing strength of our investment performance gave us good
total FUM growth, driven by our Centralised Investment Process and
the depth of expertise within our teams.
"The fundamental opportunity for our business remains strong and
the actions we have taken towards delivering sustainable and
value-enhancing growth position us well for the future."
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Caroline Connellan, Chief Executive 020 7499 6424
Ben Thorpe, Group Finance Director
Peel Hunt LLP (Nominated Adviser and Broker)
Guy Wiehahn / Adrian Haxby 020 7418 8900
MHP Communications
Reg Hoare / Simon Hockridge / Charlie Barker 020 3128 8540
Notes to editors
Brooks Macdonald Group plc, through its various subsidiaries,
provides leading investment management services in the UK and
internationally. The Group, which was founded in 1991 and began
trading on AIM in 2005, had Discretionary Funds under Management of
GBP12.8 billion as at 31 March 2019.
Brooks Macdonald offers a range of investment management
services to private high net worth individuals, pension funds,
institutions, charities and trusts. The Group also provides
financial planning as well as offshore investment management and
acts as fund manager to a regulated OEIC providing a range of
risk-managed multi-asset funds and a specialised absolute return
fund.
The Group has thirteen offices across the UK and the Channel
Islands including London, East Anglia, Hampshire, Leamington Spa,
Manchester, Taunton, Tunbridge Wells, York, Scotland, Wales,
Jersey, and Guernsey.
LEI: 213800WRDF8LB8MIEX37
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END
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